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Sunday, April 15, 2012

A Free Market with Opportunity Restrictions: Capitalism

The ideology of capitalism stems from the idea that society is organized in such a way that the wealth and means of production are privately owned by capitalist also known as business owners. It is believed that through this system all individuals have equal opportunity to succeed seeing that it was constructed with a free market economy; this means that there is little or no government intervention so business can transact freely.

Through capitalism, many people have been able to explore their own business aspirations; If you have the supply and there is a demand for the product, more then likely your business will be successful. As a result, capitalism has allowed the poorest individual to become a successful entrepreneur. However, it is also this idea of prevalence that needs leads to the negative aspect of capitalism.

Capital is based on the monetary value of your business. The value of this in capitalism is what leads to capital being the controlling force of all individuals. Because "capitalist" own the means of production, this forces those who interact in production to be subservient to all those who control it. This is where the Marxist view of capitalism comes in. As a result of not having control over the means of production all those who participate in it have to put with the terrible conditions. You may live in a country with equal opportunity yet your opportunity is restricted to the perimeters the elite set. Marxists belief that this sense of oppression will lead to class consciousness and cause the proletariat to overthrow the bourgeoisie, also known as the capitalists. Capitalism comes with the freedom to invest the market but not to help in its creation.

2 comments:

  1. Hey Omar, nice blog. I like your concept on what capitalism is. I peeped the bit of business study's terms you had going on ;)

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